Turcotte has traded 10% of his growing web-design firm, which specializes in sites for small businesses, to Clarkson in exchange for a full tuition scholarship.

It's not easy: On top of his classes, Turcotte spends at least six hours a day managing his contractors and meeting with clients. Last winter he often didn't leave his office until midnight. But his professors give him extra help. And the president has connected him to alumni interested in hiring his company.

"The college is continually checking on me," says Turcotte. "They see this as a long-term investment."